Shell sells interest in natural gas project offshore Indonesia to PETRONAS, PT Pertamina Hulu Energi
(WO) – Shell Upstream Overseas Services (I) Limited, a subsidiary of Shell plc, has completed the sale of its 35% participating interest in Indonesia’s Masela Production Sharing Contract (“Masela PSC”) to Indonesia’s PT Pertamina Hulu Energi and PETRONAS Masela Sdn. Bhd. The sale includes the Abadi natural gas project.
INPEX Corporation holds a 65% operating interest in Masela PSC and is the operator of the Abadi natural gas project. The project is located in the Masela block, 150 km offshore Saumlaki in Maluku province, Indonesia.
SUOS acquired its interest in the Masela PSC in 2011.
This divestment is in line with Shell’s focus on disciplined capital allocation. Shell remains active in Indonesia’s downstream and low-carbon fuel sectors.